Foreclosure rate creeps up slightly in Vancouver-Portland metro area
Tuesday, January 29, 2013
A housing report issued Tuesday produced mixed results on the metro area's housing market in November, as measured by a slight increase in the inventory of homes in foreclosure.
The data released by CoreLogic showed foreclosure rates up by 0.02 percent in the Portland-Vancouver-Hillsboro, Ore., area in November, when compared to the same month in 2011. The data measured the metro area's percentage of unresolved loans in some stage of foreclosure, according to Irvine, Calif.-based CoreLogic. The figure included local mortgage delinquencies, down slightly in November.
CoreLogic reported 5.23 percent of metro-area mortgages were delinquent by 90 days or more in November, compared with 5.6 percent during the same period in 2011.
Some Clark County experts have said the recent increase in foreclosures follows the lull caused by a new state law requiring lenders to work with delinquent homeowners before starting the foreclosure process. Clark County's stagnant job market might also account for some of the local foreclosure pattern.